Italy - Factors to watch on Sept. 28
28/09/2023 05:00
The following factors could affect Italian markets on Thursday.
Reuters has not verified the newspaper reports, and cannot
vouch for their accuracy. New items are marked with (*).
For a complete list of diary events in Italy please click on
IT/DIA .
POLITICS
Italy's top court ruled on Wednesday that the trial of four
Egyptian security officials over the disappearance and murder of
an Italian student could go ahead, despite concerns the
defendants did not know they had been charged.
Two Italian parliamentary committees have approved a
government amendment that revisits a contested windfall tax on
banks by giving lenders the option to boost their reserve
buffers instead of paying the levy, lawmakers said on Wednesday.
ECONOMY
The Italian government on Wednesday cut its growth forecasts
for this year and next and hiked its budget deficit targets, as
rising interest rates hurt the economy and costly green building
incentives weigh on public finances.
Italy's government said on Wednesday it had appointed former
banker Marcello Sala as head of a new department at the economy
ministry in charge of managing state-run firms and asset
disposals.
ISTAT releases September consumer and business confidence
data (0800 GMT) and August producer prices data (0900 GMT).
DEBT
Treasury sells 4.5-5.0 billion euros 4.10% BTP bonds due
Feb. 1, 2029; 2.5-3.0 billion euros 4.20% BTP bonds due March
1, 2034; 500-750 million euros CCTeu bonds due April 15, 2026;
500-750 million euros CCTeu bonds due Oct. 15, 2030.
Subscriptions close at 0900 GMT.
Italy's sovereign debt risk premium hit a more than four
month high on Wednesday as investors repositioned for lower
growth and higher deficit figures ahead of the county's budget
plan.
COMPANIES
MONTE PASCHI (MPS) BMPS.MI
Italy's economy minister said on Wednesday that
state-controlled lender Monte dei Paschi di Siena BMPS.MI (MPS)
can become part of a strong new Italian banking group and the
government did not need to raise cash quickly.
TELECOM ITALIA (TIM) TLIT.MI
TIM's directors backed KKR's request to extend to Oct. 15 a
deadline to receive a binding bid from the U.S. fund for the
former phone monopoly's landline grid, the company said on
Wednesday.
UNIPOL UNPI.MI , BANCA POPOLARE DI SONDRIO BPSI.MI
Italian financial group Unipol has started the process to
buy another 10.2% of Popolare di Sondrio, it said on Wednesday,
tightening its grip on the regional lender. Books for the
reverse accelerated book-building launched by Unipol have so far
been 90% covered, a trader said.
STELLANTIS STLAM.MI
The United Auto Workers (UAW) union plans to strike
additional Detroit Three automotive facilities on Friday absent
serious progress, a source told Reuters.
SAFILO SFLG.MI
The Italian eyewear group and U.S. luxury footwear brand
Stuart Weitzman said on Wednesday they had entered a multi-year
exclusive global licensing agreement for eyewear that will run
through June 2029.
DIARY
Berlin, Foreign Minister Antonio Tajani meets German
counterpart Annalena Baerbock; followed by news conference (1245
GMT).
Rome, Prime Minister Giorgia Meloni and Industry Minister
Adolfo Urso sign pact on anti-inflation quarter together with
representatives from associations of distribution, trade and
consumer goods industry, followed by presentation (1300 GMT).
Rome, Economy Minister Giancarlo Giorgetti attends
meeting of interministerial committee for economic planning and
sustainable development.
Milan, "Italian Energy Summit 2023" ends (0800 GMT); on
Thursday expected attendees include Edison EDNn.MI CEO Nicola
Monti (0840 GMT).
Turin, "2023 Italian Tech Week" continues; ends on Sept. 29.
On Thursday expected attendees include Qonto CEO e co-founder
Alex Prot (0945 GMT); Stellantis STLAM.MI Chairman and Ferrari
RACE.MI Chairman John Elkann and Airbnb co-Founder and CEO
Brian Chesky (1030 GMT).
Vatican City, Pope Francis receives Portuguese Prime
Minister Antonio Costa (0700 GMT).
((Milan newsroom, e-mail: reutersitaly@thomsonreuters.com))
For Italian market data and news, click on codes in
brackets:
20 biggest gainers (in percentage)............ .PG.MI
20 biggest losers (in percentage)............. .PL.MI
FTSE IT allshare index .FTITLMS
FTSE Mib index........ .FTMIB
FTSE Allstars index... .FTSTAR
FTSE Mid Cap index.... .FTITMC
Block trades.......... .BLK.MI
Stories on Italy...... IT-LEN
For pan-European market data and news, click on codes in
brackets:
European Equities speed guide................... EUR/EQUITY
FTSEurofirst 300 index.............................. .FTEU3
DJ STOXX index...................................... .STOXX
Top 10 STOXX sectors........................... .PGL.STOXXS
Top 10 EUROSTOXX sectors...................... .PGL.STOXXES
Top 10 Eurofirst 300 sectors................... .PGL.FTEU3S
Top 25 European pct gainers....................... .PG.PEUR
Top 25 European pct losers........................ .PL.PEUR
Main stock markets:
Dow Jones............... .DJI Wall Street report ..... .N
Nikkei 225............. .N225 Tokyo report............ .T
FTSE 100............... .FTSE London report........... .L
Xetra DAX............. .GDAXI Frankfurt market stories .F
CAC-40................. .FCHI Paris market stories... .PA
World Indices..................................... 0#.INDEX
Reuters survey of world bourse outlook......... EQUITYPOLL1
Western European IPO diary.......................... WEUIPO
European Asset Allocation........................ EUR/ASSET
Reuters News at a Glance: Equities............... TOP/EQE
Main currency report:............................... FRX/